Richard Bernstein Advisors LLC Cuts Stock Position in Public Service Enterprise Group Incorporated $PEG

Richard Bernstein Advisors LLC cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 51.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 15,478 shares of the utilities provider’s stock after selling 16,182 shares during the period. Richard Bernstein Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HM Payson & Co. increased its stake in shares of Public Service Enterprise Group by 3.3% in the third quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock worth $313,000 after buying an additional 120 shares during the last quarter. Rossby Financial LCC boosted its stake in Public Service Enterprise Group by 5.5% during the 3rd quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock valued at $191,000 after purchasing an additional 121 shares during the period. Colonial Trust Co SC increased its position in Public Service Enterprise Group by 26.8% in the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 121 shares during the period. Transcend Capital Advisors LLC raised its position in Public Service Enterprise Group by 2.6% in the third quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock worth $410,000 after acquiring an additional 125 shares in the last quarter. Finally, Sage Private Wealth Group LLC raised its holdings in shares of Public Service Enterprise Group by 4.9% in the 3rd quarter. Sage Private Wealth Group LLC now owns 2,831 shares of the utilities provider’s stock worth $236,000 after purchasing an additional 133 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. This represents a 14.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $83.66, for a total value of $174,263.78. Following the completion of the sale, the chief executive officer directly owned 292,889 shares of the company’s stock, valued at approximately $24,503,093.74. The trade was a 0.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Down 0.9%

Shares of NYSE:PEG opened at $83.28 on Wednesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.60 and a current ratio of 0.80. The company has a market capitalization of $41.53 billion, a PE ratio of 19.73, a P/E/G ratio of 2.74 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $91.25. The company’s fifty day moving average is $81.94 and its 200-day moving average is $81.78.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.63. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.72%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PEG shares. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday, December 29th. Wall Street Zen downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday. Barclays lifted their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $85.00 price objective (down from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday, January 22nd. Finally, Scotiabank restated a “sector perform” rating and set a $92.00 target price on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.73.

Public Service Enterprise Group Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.